Macmillan Education 4 Crinan Street, London, N1 9XW A division of Macmillan Publishers Limited Companies and representatives throughout the world www.macmillan-caribbean.com ISBN 978-0-230-48209-8 Caribbean Examinations Council (CXC ) 2017 www.cxc.org www.cxc-store.com The author has asserted their right to be identified as the author of this work in accordance with the Copyright, Design and Patents Act 1988. First published 2014 This revised edition published 2017 Permission to copy The material in this book is copyright. However, the publisher grants permission for copies to be made without fee. Individuals may make copies for their own use or for use by classes of which they are in charge; institutions may make copies for use within and by the staff and students of that institution. For copying in any other circumstances, prior permission in writing must be obtained from Macmillan Publishers Limited. Under no circumstances may the material in this book be used, in part or in its entirety, for commercial gain. It must not be sold in any format. Designed by Macmillan Publishers Limited Cover design by Macmillan Publishers Limited and Red Giraffe
CSEC Principles of Accounts Free Resources LIST OF CONTENTS CSEC Principles of Accounts Syllabus Extract 4 CSEC Principles of Accounts Syllabus 5 CSEC Principles of Accounts Specimen Papers Mark 01239010/SPEC 20 60 01239010/SPEC 76 01239032/SPEC 20 01239020/SPEC 101 01239020/ SPEC 20 114 1239032/ SPEC 20 128 132 CSEC Principles of Accounts Subject Reports 2004 (January) Subject Report 134 2004 (June) Subject Report 142 2005 (January) Subject Report 149 2006 (June) Subject Report 157 2007 (January) Subject Report 169 2007 (May/June) Subject Report 176 2008 (January) Subject Report 191 2008 (May/June) Subject Report 199 2009 (January) Subject Report 213 2009 (May/June) Subject Report 223 2010 (January) Subject Report 236 2010 (May/June) Subject Report 246
2011 (January) Subject Report 261 2011 (May/June) Subject Report 2 2012 (January) Subject Report 391 2012 (May/June) Subject Report 302 2013 (January) Subject Report 317 2013 (May/June) Subject Report 330 2014 (May/June) Subject Report 345 2015 (January) Subject Report 360 2015 (May/June) Subject report 374
Principles of Accounts Syllabus Extract Principles of Accounts is a course of study that provides an introduction to the principles and techniques that accountants employ in measuring, processing, evaluating and communicating information about the financial performance and position of a business. This CSEC Principles of Accounts Syllabus helps students to develop an understanding of a range of theoretical and practical techniques used in Accounting. It also helps to develop skills that should enable them to participate more effectively and responsibly in today s business and technology-based environment, to improve the management of personal financial activities, such as, budgeting, savings and investment. In addition, this course prepares students for post-secondary and professional studies and entry level employment in Accounting. The syllabus is arranged in 11 Sections consisting of specific objectives and related content. Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Section 7 Section 8 Section 9 Section 10 Section 11 Accounting as a Profession Accounting as a System Books of Original Entry Ledgers and the Trial Balance The Preparation and Analysis of Financial Statements of the Sole Trader Accounting Adjustments Control Systems Accounting for Partnerships Accounting for Limited Liability Companies Co-Operatives and Non-Profit Organisations Manufacturing and Inventory Control Accounting for the Entrepreneur
Caribbean Secondary Education Certificate SYLLABUS PRINCIPLES OF ACCOUNTS Effective for examinations from May June 2019
Correspondence related to the syllabus should be addressed to: The Pro-Registrar Caribbean Examinations Council Caenwood Centre 37 Arnold Road, Kingston 5, Jamaica Telephone Number: + 1 (876) 630-5200 Facsimile Number: + 1 (876) 967-4972 E-mail Address: cxcwzo@cxc.org Website: www.cxc.org Copyright 2017 by Caribbean Examinations Council Prince Road, Pine Plantation Road, St Michael BB11091
Content RATIONALE... 1 AIMS.... 1 GENERAL OBJECTIVES... 2 SKILLS AND ABILITIES TO BE ASSESSED... 2 ORGANISATION OF THE SYLLABUS... 3 RECOMMENDED TEACHING APPROACHES... 3 SUGGESTED TIMETABLE ALLOCATION... 4 CERTIFICATION... 4 DEFINITION OF PROFILE DIMENSIONS... 4 FORMAT OF THE EXAMINATIONS... 5 WEIGHTING OF THE EXAMINATION COMPONENTS... 6 REGULATIONS FOR PRIVATE CANDIDATES... 6 REGULATIONS FOR RESIT CANDIDATES... 6 REGULATIONS FOR THE JANUARY SITTING... 6 SECTION 1: ACCOUNTING AS A PROFESSION... 7 SECTION 2: ACCOUNTING AS A SYSTEM... 9 SECTION 3: BOOKS OF ORIGINAL ENTRY... 12 SECTION 4: LEDGERS AND THE TRIAL BALANCE... 15 SECTION 5: THE PREPARATION AND ANALYSIS OF FINANCIAL STATEMENTS OF THE SOLE TRADER... 17 SECTION 6: ACCOUNTING ADJUSTMENTS... 19 SECTION 7: CONTROL SYSTEMS... 21 SECTION 8: ACCOUNTING FOR PARTNERSHIPS... 23
SECTION 9: ACCOUNTING FOR LIMITED LIABILITY COMPANIES CO-OPERATIVES AND NON-PROFIT ORGANISATIONS... 25 SECTION 10: MANUFACTURING AND INVENTORY CONTROL... 27 SECTION 11: ACCOUNTING FOR THE ENTREPRENEUR... 29 GUIDELINES TO TEACHERS FOR THE CONDUCT OF THE SCHOOL-BASED ASSESSMENT IN BUSINESS STUDIES (PRINCIPLES OF ACCOUNTS, PRINCIPLES OF BUSINESS AND ECONOMICS)... 31 GUIDELINES TO TEACHERS FOR THE ALTERNATIVE TO SCHOOL-BASED ASSESSMENT... 36 FORMULAE... 37 GLOSSARY OF ACCOUNTING TERMS... 38 GLOSSARY OF EXAMINATION TERMS... 48
The Principles of Accounts Syllabus () was revised in 2016 for first examination in 2019. Teaching is expected to commence on the revised syllabus in September 2017. Revised 1990, 1998, 2006 and 2017 Please check the website, www.cxc.org for updates on CXC s syllabuses.